Buffett Looks to Future

The Wall Street Journal reports that Warren Buffett at Berkshire Hathaway’s annual meeting this weekend went further than ever before in sketching out how the conglomerate might eventually look like without him. On the investing front, Buffett this morning on CNBC said he very much favors equities over bonds, warning that some investors could lose a lot of money in long-term, fixed-income assets when interest rates eventually rise.